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FXPrimus vs LegacyFX 2023

BrokerNotes.co

Written by BrokerNotes.co

January 31, 2023

Trying to decide between FXPrimus and LegacyFX? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, FXPrimus ranks more highly than LegacyFX.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingFXPrimusLegacyFX
Overall Rating 6.9 / 10 6.9 / 10
Account TypeFXPrimusLegacyFX
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account Yes Yes
Copy TradingFXPrimusLegacyFX
Social Trading / Copy Trading Yes Yes
DupliTrade No No
ZuluTrade No No
CryptocurrencyFXPrimusLegacyFX
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)FXPrimusLegacyFX
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)FXPrimusLegacyFX
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsFXPrimusLegacyFX
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting No No
Social Trading / Copy Trading Yes Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals No Yes
ETF No No
U.S. Stocks (CFD) No Yes
Trading PlatformsFXPrimusLegacyFX
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform No No
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes No
MetaTrader 5 (MT5) Yes Yes
Regulatory LicensesFXPrimusLegacyFX
Tier-1 Licenses 0 1
ASIC Authorised (Australia) No No
IIROC Authorised (Canada) No No
FCA Authorised (U.K.) No Yes
SFC Authorised (Hong Kong) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
CFTC Registered (USA) No No
Tier-2 Licenses 1 1
Tier-3 Licenses 1 0
Research, EducationFXPrimusLegacyFX
Trading Central (Recognia) No No
Forex News (Top-Tier Sources) No No
Daily Market Commentary Yes Yes
Autochartist No Yes
Investor Dictionary (Glossary) No Yes
Videos - Beginner Trading Videos No Yes
Client Webinars (Archived) Yes Yes
Trading CostsFXPrimusLegacyFX
Minimum Initial Deposit $100 $500
Average Spread EUR/USD - Standard N/A 0
All-in Cost EUR/USD - Active N/A 0
Active Trader or VIP Discounts No Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
PayPal (Deposit/Withdraw) No No
Trading ToolsFXPrimusLegacyFX
Watchlists - Total Fields 7 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 30 30
Mobile Charting - Indicators / Studies 30 30
Trust FactorsFXPrimusLegacyFX
Year Founded 2009 2012
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union Yes info Yes info
Trust Score 69 75
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FXPrimus vs LegacyFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare FXPrimus vs LegacyFX.

Can I trust FXPrimus?

FXPrimus has a trust score of 69, giving it a "High Risk" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust LegacyFX?

LegacyFX has a trust score of 75, giving it a "Average Risk" trust label.

Is FXPrimus a good broker?

FXPrimus offers cTrader as well as the full MetaTrader suite, but offers less than 140 symbols that you can trade from its platform. Despite carrying indemnity insurance from its Vanuatu regulated entity and holding a regulatory license in Cyprus, FXPrimus' lack of additional top-tier licenses brings its Trust Score down.

Is LegacyFX a good broker?

While primarily a MetaTrader broker, LegacyFX offers a decent range of markets and provides average educational content and research. That said, LegacyFX's pricing and range of markets can't compete with the best MetaTrader brokers.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. FXPrimus is none, while LegacyFX is FCA Authorised (U.K.)., neither have ASIC Authorised (Australia), IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FINMA Authorised (Switzerland) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, both FXPrimus and LegacyFX are CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses FXPrimus is VFSC Authorised (Vanuatu), while LegacyFX is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands) and FSC Authorised (Mauritius).

Which broker offers more trading platforms?

For trading platforms FXPrimus supports a Desktop Platform (Windows) and cTrader, whereas LegacyFX supports a Desktop Platform (Windows)., neither have Proprietary Platform, DupliTrade and ZuluTrade

Does FXPrimus offer MetaTrader? Does LegacyFX offer MetaTrader?

For MetaTrader FXPrimus provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5), while LegacyFX provides MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do FXPrimus and LegacyFX differ in terms of minimum deposit? What about average spreads and funding options?

FXPrimus requires a minimum deposit of $100, while LegacyFX requires a minimum deposit of $500. From our testing we found FXPrimus offers spreads of N/A, while LegacyFX offers spreads of 0. Both FXPrimus and LegacyFX offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits., neither have PayPal (Deposit/Withdraw)

Which brokers offers more tradeable asset classes, FXPrimus or LegacyFX?

FXPrimus offers a more diverse selection of investment options than LegacyFX allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals and Energies., neither have Spread Betting and ETF Looking at total tradeable symbols, FXPrimus has 140, compared to 425 from LegacyFX.

Can I trade cryptocurrency with FXPrimus or LegacyFX?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither FXPrimus nor LegacyFX allow you to trade physical cryptocurrencies.

Who offers more research tools, FXPrimus or LegacyFX?

In terms of research and research tools FXPrimus gives traders the following tools: Daily Market Commentary, Stock Charts and Social Trading / Copy Trading. In comparison LegacyFX has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts and Social Trading / Copy Trading., neither have Forex News (Top-Tier Sources) and Trading Central (Recognia)

Broker Reviews

Still looking for more information, read our broker reviews.

FXPrimus Review

LegacyFX Review

Overall winner: FXPrimus

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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